Aristocrat Leisure agrees to buy Playtech for $3.7 Billion
Australia’s Aristocrat Leisure said on Monday it would buy London-listed gaming software supplier Playtech £2.7 billion ($3.7 billion), offering new growth areas for the gambling machine maker including real money gaming.
Playtech shares soared 57% to a three-year high and were trading 6.5 pence short of the offer price of 680 pence per share. Aristocrat Leisure shares are on a trading halt until Oct. 21.
A shift to online betting amid the pandemic has prompted consolidation in the industry, with UK-based Entain being approached by U.S. fantasy sports company DraftKings last month.
“The proposed combination would bring together Aristocrat’s world-class gaming content, customer and regulatory relationships with Playtech’s industry-leading global online RMG platform (B2B) and European B2C footprint,” said Trevor Croker, CEO at Aristocrat.